ABU DHABI ISLAMIC BANK POSTS 209% PROFIT INCREASE

Info-Prod Research (Middle East), July, 2005

According to Al-Bayan newspaper (July 10, 2005), Abu Dhabi Islamic Bank posted Dh 141.6 million net operating profits in the first half of the current year compared with Dh 45.8 million in the corresponding period of last year, an impressive increase of 209%. The total assets have grown up to Dh16.80 billion at the end of the first half of year 2005 with 56 per cent growth rate as compared to the same period of year 2004.

By adding the assets associated with the new subscriptions in the IPO, the aggregate assets will rise up to Dh 18.30 billion with 70 per cent growth rate compared to the first half of year 2004. Customer deposits grew to Dh 13.4 billion by the end of the first half of 2005 compared to Dh8 billion in the first half of 2004, a growth of 67 per cent. Operating...

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